Core Insights - Eupraxia Pharmaceuticals Inc. reported its financial results for Q3 2024, highlighting advancements in clinical trials and financial activities [1][2] Clinical Developments - The company advanced its Phase 1b/2a RESOLVE trial for EP-104GI, showing positive results for eosinophilic esophagitis and presenting data at international medical conferences [2][3] - The Phase 2b SPRINGBOARD trial data for EP-104IAR in knee osteoarthritis was published in The Lancet Rheumatology, indicating significant clinical progress [2][3] Financial Performance - Eupraxia incurred a net loss of 4.9 million in Q3 2023, primarily due to reduced other income from changes in financial instruments [4] - Cash reserves decreased to 19.3 million at the end of Q4 2023, with funds allocated for clinical trials and general corporate purposes [5] Funding and Future Outlook - The company raised C$44.5 million through a non-brokered private placement, which, along with existing cash reserves, is expected to fund operations through Q3 2026 [6] - As of September 30, 2024, the company had 35,622,553 common shares outstanding [6] Management Changes - The company strengthened its management team by appointing Dr. Amanda Malone as Chief Operating and Scientific Officer and Dr. Rahul Sarugaser as Executive Vice President of Corporate Development [3]
Eupraxia Pharmaceuticals Reports Third Quarter 2024 Financial Results